HMRC approved business mileage rates

December 18, 2017

You will undoubtedly use your personal vehicle for business use, whether its dealing with the post, banking or buying supplies, you can be reimbursed for the cost of you using your vehicle.

 

The current HMRC approved mileage rates are: 

 

1-10,000 miles per tax year @ 45 pence per mile

 

Over 10,000 miles @ 25 pence per mile.

 

You need to keep an accurate log of your mileage so that you can back up your mileage claim.

 

You can also reclaim VAT, if your business is VAT registered, on the fuel element of your vehicle. If your mileage is significant this could amount to a reasonable level across a year.

 

Please get in contact if you would like more details about the VAT reclaimable amounts per mile for your vehicle.

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